Postal Ballot Notice for E-voting
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Ajcon Global Services Ltd has issued a Postal Ballot Notice seeking shareholder approval through remote e-voting on three resolutions. The first is a 1:10 stock sub-division, splitting every equity share of face value ₹10 into 10 shares of face value ₹1 each, with total share capital remaining unchanged at ₹10 crore (authorized) and ₹6.12 crore (paid-up, 61,16,200 shares). The split aims to improve liquidity and make shares more affordable for retail investors. The second resolution seeks to amend the Capital Clause (Clause V) of the Memorandum of Association to reflect the new face value. The third resolution is for the appointment of CA. Sangeeta Vijay Kumar (DIN: 10704866) as an Independent Director for 5 years (10.02.2025 to 09.02.2030). E-voting runs from 9:00 AM on 02.05.2025 to 5:00 PM on 31.05.2025, with the cut-off date set as 25.04.2025. Results will be declared by 02.06.2025. The company also has 10 lakh outstanding Fully Convertible Warrants whose conversion ratio will be adjusted accordingly.
If approved, the stock split will lower the per-share price (typically to one-tenth) and could boost liquidity and retail participation without changing the company's overall market value or your proportionate ownership. Existing shareholders will automatically hold 10x more shares post-split. The new Independent Director brings expertise in audits, taxation, and CSR, strengthening board oversight.